Walmart (WMT) and Burger King team up to offer Walmart+ members a 25% discount on digital orders and a free Whopper every three months.
JD.com Inc. JD stock has entered bearish territory, with a Death Cross signaling a potential downturn. The e-commerce giant is down 1.16% year-to-date and 20.51% over the past year, though it saw a slight uptick of 2.6% in the past month.
E-commerce retailer JD.com needs to convince investors of its relevance amid a stagnant Chinese e-commerce market, aggressive price war and now, the departure of Walmart, its biggest shareholder.
Walmart on Thursday announced a new partnership with fast food chain Burger King that will offer members of its Walmart+ subscription program 25% off any Burger King order made through the BK app. Walmart positioned the added benefits as cost savings for its members.
Walmart (WMT) announced a new benefit for Walmart+ subscribers Thursday, introducing a discount of 25% for online orders at Restaurant Brands International's (QSR) Burger King, as the retail giant works to make its paid membership more enticing than those of its competitors.
Walmart's members can avail discounts at Burger King, including 25% off on any digital order every day, the company said.
Walmart's (WMT) decision to divest its stake in JD.com is likely to help it focus on strengthening its core operations in China, including Walmart China and Sam's Club.
Walmart has teamed with Burger King in its latest effort to boost its subscription program. The retail giant and the fast food chain have begun offering what they describe as a “first-of-its-kind” dining benefit to Walmart+ members, the companies announced Thursday (Aug. 22).
Members of Walmart+ will soon get discounted meals at Burger King, the latest in a string of new benefits as the membership program chases its far larger rival, Amazon AMZN 0.69%increase; green up pointing triangle Prime.
Walmart's stake in Chinese e-commerce firm JD.com was once central to its China strategy.
Walmart sold approximately $3.6 billion in JD.com stock, its entire stake in the company. The move comes eight years after Walmart acquired the stock.
JD.com Inc (NASDAQ:JD) stock is sliding today, after Walmart (WMT) confirmed it was selling its stake in the China-based e-commerce giant to focus on other things such as China operations for Walmart China and Sam's Club.